Scaling a business is not the same as growing a business. The meaning of these two definitions are confusing. For example the rapidly growing small businesses are not scaled companies. We might think that small businesses grew in a short time might be successful. It is that giants are successful. I am talking about business took a shot at the longrun and scaled their branch for branch in due time. Growing too quick will give you a feeling of you have succeeded but there is a sureshot foundation needed to break the fall of the growsprout. There is a good foundation needed to be sure of that your profits are growing from time to time and the pitfalls of vulnerable factors like rushing small business owners taking risks and lead by greed might be the issue.
What is scaling a business?
Scaling a business is in the initial state is to set up and grow. To scale a business you need a plan to set up properly and grow in due time to make profits and get a bigger market share throughtout the time. In the first period the profits might not grow fast as you might think because you have not spread the word or proven the expertise you posses. You need to prove a point to get your products to customers that are curious. You can influence the market by approaching the customers in a non-conventional manners. Your main focus is to grow and scale then you need to focus on product quality and relevant prices for your products and how you are going to supply the market demand in a way that is mutually beneficial for you and your customers.
Keep focus on the main purpose.
Why starting a business? You might be already a rich man and it might that you want to make the world a better place and you want to sell solar panels to impact the climate change. Then the main focus is to sell so much as solar panels as possible. Then you might focusing on letting people know why they should switch into using solar energy. Define what the main purpose of your business is.
Create a business map.
If you got a business loan then you already have created a business plan and you need to create a business map. To keep focus on accountable business map will keep your focus on the main goals. You need to plan forward and get a vision what it takes to grow your business. This might give you an idea where you started and where you at now. This also means that you can plan ahead to achieve more success.
Fine tune your products.
To keep the longterm focus you need to make your products quality gradually improve. To fine tune you need to keep an open eye on the competition. If an other supermarket is selling a Coca-Cola for 69 cents then you also can sell your Coca-Cola for 69 cents or replace Coca-Cola with a Dr.Pepper. If it is the case for every supermarket in the city which sell Coca-Cola for 69 cents. Separate your self by not selling Coca-Cola but sell Canda Dry or Root beer.
Work on a smooth communications inside your company.
Work on the workfloor culture and promote loyalty between the employees. You need to motivate the employees to create a pleasant work ambiance and through communication and create great work ethics on the workfloor. The internal operations need to work well. If you treat your co-workers well then they are ging to treat the customers in that way too.You need not to become overconfident when you just starting out. Give your self time to grow and create a solid base before you are going to scale your business.
No comments:
Post a Comment